The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
The Determinants of Bank Capital Structure
Abstract
The paper shows that mispriced deposit insurance and capital regulation were of second-order importance in determining the capital structure of large U.S. and European banks during 1991 to 2004. Instead, standard cross-sectional determinants of non-financial firms’ leverage carry over to banks, except for banks whose capital ratio is close to the regulatory minimum. Consistent with a reduced role of deposit insurance, we document a shift in banks’ liability structure away from deposits towards non-deposit liabilities. We find that unobserved time-invariant bank fixed-effects are ultimately the most important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time-invariant targets.
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Cites
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1998) · Journal of Econometrics · doi:10.1016/s0304-4076(98)00009-8 · Cited by 22,571
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
What Do We Know about Capital Structure? Some Evidence from International Data
RAJAN, R. G., & ZINGALES, L. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb05184.x · Cited by 6,538
The Determinants of Capital Structure Choice
TITMAN, S., & WESSELS, R. (1988) · The Journal of Finance · doi:10.1111/j.1540-6261.1988.tb02585.x · Cited by 6,112 · cited 3×
“…leverage i) has converged on a number of standard variables that are reliably related to the capital structure of non-financial firms (for example Titman and Wessels, 1988, Harris and Raviv, 1991, Rajan and Zingales, 1995, and Frank and Goyal, 2004) and ii) has examined the transitory and…”
Cited by
Bank competition and stability: Cross-country heterogeneity
Beck, T., De Jonghe, O., & Schepens, G. (2013) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2012.07.001 · Cited by 1,021
The impact of climate change on the cost of bank loans
Javadi, S., & Masum, A.-A. (2021) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2021.102019 · Cited by 594
The influence of monetary policy on bank profitability
Borio, C., Gambacorta, L., & Hofmann, B. (2017) · International Finance · doi:10.1111/infi.12104 · Cited by 444
Why bank capital matters for monetary policy
Gambacorta, L., & Shin, H. S. (2018) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2016.09.005 · Cited by 375
Capital ratios and bank lending: A matched bank approach
Carlson, M., Shan, H., & Warusawitharana, M. (2013) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2013.06.003 · Cited by 272
Metadata
- Authors
- Gropp, R., & Heider, F.
- Venue
- Review of Finance
- Publisher
- Oxford University Press (OUP)
- Published
- 2010-03-30
- Volume
- 14
- Issue
- 4
- Pages
- 587-622
- ISSN
- 1382-6662 (ISSN-L)
- 1573-692X
- 1572-3097
- OpenAlex
- W3124328633
- Cited by
- 662
- References
- 4
- FWCI
- 56.42
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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